Ontario airport to shutdown as Cadillac Fairview eyes plans to develop
An Ontario airport announced it is planning on shutting down as its landowner explores redeveloping the grounds north of Toronto.
Toronto Buttonville Municipal Airport informed staff and tenants in a letter on Wednesday that the privately-owned travel hub in Markham, Ont., is scheduled to cease operations on Nov. 30.
Since 2010, the airport has been operating under a land lease with commercial real estate company Cadillac Fairview, president of Million Air Toronto and Torontoair Ltd. Derek Smith wrote, which has owned and operated Buttonville since 1963.
Buttonville Airport began in 1953 as a grass airstrip and became an official airport in 1962. It currently services corporate and other small passenger flights, and is home to over 300 flying clubs, according to the City of Markham.
“(It) has now reached its natural expiry, and they may look to redevelop the airport site at some time in the future,” Smith said.
Rumours of the airport closing have circulated for decades
In 2009, the airport was on the brink of closure after losing a $1.5 million annual contract.
Then, when Cadillac Fairview purchased the land, it had originally intended to redevelop the 170-acres to create the equivalent of a new town. But the airport remained.
“Cadillac Fairview has always envisioned plans for redevelopment,” Janine Ramparas with Cadillac Fairview said in a statement on Thursday. “The natural expiry of the airport lease is a part of this process and we look forward to providing further details when available.”
Concluding his letter, Smith said it’s been a pleasure to develop the airport into one of Canada’s largest privately-owned airports for decades.
“I wish you all the best and thank you for your contributions on this epic journey.”
CTVNews.ca Top Stories
A healthy lifestyle can mitigate genetic risk for early death by 62%, study suggests
Even if your genetics put you at greater risk for early death, a healthy lifestyle could help you significantly combat it, according to a new study.
When you have a moment's notice to evacuate, what do you take?
Knowing what to have at home, or take with you for an evacuation, can be useful and even life-saving.
B.C. brings in law on name changes on day that child killer's new identity revealed
The BC NDP have tabled legislation aimed at stopping people who have committed certain heinous acts from changing their names.
No, a best-selling American writing duo didn't pen a Galen Weston romance novel
You would be forgiven for thinking Christina Lauren's latest romance novel stars a hunky reimagining of Loblaw chairman Galen G. Weston.
Avs forward Valeri Nichushkin suspended at least six months
Colorado Avalanche forward Valeri Nichushkin was suspended for at least six months without pay and placed in Stage 3 of the league's player assistance program.
Sunchips, Munchies recalled by Frito Lay Canada for possible salmonella contamination
Frito Lay Canada is recalling two of its most popular snacks due to a possible risk of salmonella contamination.
Ellen DeGeneres addresses the 'hurtful' end of her talk show in new stand-up set
Ellen DeGeneres is reflecting on how her talk show came to an end in her newest Netflix special, 'Ellen's Last Stand ... Up Tour.'
Western University researchers unlock potential 'cure' for ALS
New research out of London, Ont.'s Western University is shedding light on a potential cure for ALS, in which the targeting of the interaction between two proteins can halt or fully reverse the disease's progression.
Police release 3D images of young child found in an Ontario river two years ago
Police have released a three-dimensional image of a young child whose remains were discovered in the Grand River in Dunnville, Ont. almost two years ago.